Baltimore, MD CAM Reconciliation Guide
Vacancy rates, property tax system, operating expense benchmarks, and market-specific CAM billing considerations for Baltimore, MD commercial landlords.
Current Vacancy Rates
Source: CBRE/JLL Q4 2025 Market Reports
Average CAM per Square Foot
Property Tax System
Maryland State Department of Assessments and Taxation (SDAT)
File with SDAT within 45 days of assessment notice. Triennial reassessment cycle (assessed value phased in over 3 years). Can appeal to Property Tax Assessment Appeals Board, then Maryland Tax Court.
~2.2-2.5% effective rate (Baltimore City rate is among highest in MD at ~$2.25 per $100 assessed)
Key Submarkets
CAM Billing Considerations
- Baltimore City property tax rate is roughly double surrounding county rates
- Triennial reassessment with 3-year phase-in creates predictable but lagging adjustments
- PILOT (payment in lieu of taxes) agreements common for major developments
- Enterprise Zone credits available in designated areas
- Federal/military (Fort Meade, NSA) demand anchors suburban markets
BOMA Baltimore
Market Context
Baltimore City's property tax rate (~$2.25/$100 assessed) is roughly double surrounding counties, creating dramatic CAM disparities for portfolios spanning the metro. The 3-year phase-in of reassessment changes smooths but delays tax adjustments.
Related Resources
Reconcile Baltimore, MD Properties
CapVeri accounts for market-specific vacancy, local tax timing, and property-type-specific expense pools in your reconciliation.
Start Free Audit